KPMG Australia announced on Monday that it has sanctioned seven staff members following an internal investigation into the misuse of confidential client information. The penalties include financial fines of up to A$180,000 ($125,838), as well as formal warnings, restricted career progression, and lowered performance ratings. The firm stated the investigation confirmed that internal documents containing client data were inappropriately shared within the organization.
The internal probe followed whistleblower allegations in March that staff used confidential information to secure audit contracts. This investigation follows the recent resignations of KPMG Australia’s CEO, head of audit, and chairman. Three senior audit partners had previously been fined by the firm for misusing confidential board papers from the real estate company Lendlease.
In addition to the internal sanctions, the Australian Securities and Investments Commission (ASIC) is conducting its own investigation into three partners. Two of the individuals under investigation by ASIC have already left KPMG Australia. A company spokesperson stated that two of the seven recently sanctioned staff members also chose to retire before the penalties were issued.